Monthly Interest on an FD of ₹2 Lakhs

When investing in an FD, issuers offer various interest payout intervals, such as monthly, quarterly, and annual payouts. On choosing a monthly interest payout option, you will receive monthly returns that you could use to pay off certain expenses.

To understand this better, here is an example. If you earn 7% interest on an FD of ₹2 Lakhs for a tenor of 5 years, you can get monthly interest of approximately ₹1,166. While the amount may seem small, it can complement your income and help you plan and budget your expenses effectively.

But before you invest, compare your returns across different rates, tenors, and issuers to choose the one that offers the most lucrative earnings. 

When you book an FD at high interest rates, you can secure the best returns. Here is an estimate of the monthly interest payout you would receive on an FD of ₹2 Lakhs for 5 years at different rates. 

Note: These values are indicative and may vary based on the invested amount and chosen tenor.

Another parameter impacting your returns is the tenor you choose for a fixed deposit. For instance, if you invest in an FD of ₹2 Lakhs for 2 years, your monthly interest will be ₹533 at an interest rate of 8%. As you can see, your interest income increases when you choose a longer tenor and vice versa.

The issuer you choose is one of the factors that influence the FD rates and, thereby, your returns. Here is the monthly interest on a fixed deposit of ₹2 Lakhs offered by different banks and NBFCs for a tenor of 5 years:

Note: The above-mentioned rates are subject to change at the issuer’s discretion.

You can also use the online FD interest calculator to compare your options and invest as per your goals and finances. If you want to book an FD of ₹2 Lakhs for 3 years, all you have to do is enter the deposit amount, choose an applicable rate and select the tenor as 36 months. Select the interest payout mode as monthly and you will get the result within seconds.

Now that you have a better understanding of the potential interest per month on a fixed deposit of ₹2 Lakhs choose an issuer of your choice. On Bajaj Markets, you can select from multiple issuers offering competitive rates. 

The information provided by BFDL is related to the rates provided by Banks and Deposit taking NBFCs as available from public domain and under no circumstances is intended to be source of advice or recommendation of any financial investment advice or endorsement of any sort. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers and use of such information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. Display of any intellectual property along with the related product information does not imply BFDL’s partnership with the owner of the intellectual property of such products and is solely for the purpose of information, unless otherwise provided by BFDL.